Continental prices $1.7B senior notes offering

May 13, 2014

Continental Resources Inc.

Continental Resources Inc. (NYSE: CLR) has priced its private placement of $1.0 billion of new 3.800% senior unsecured notes due 2024 and $700.0 million of new 4.900% senior unsecured notes due 2044. The 2024 notes were sold at 99.644% of par, resulting in a yield to maturity of 3.843% with respect to the 2024 notes.

The 2044 notes were sold at 99.717% of par, resulting in a yield to maturity of 4.918% with respect to the 2044 notes. The offering is expected to close on May 19.

Continental intends to use the net proceeds from this offering to repay in full amounts outstanding under its revolving credit facility, to finance the redemption of its 8¼% senior notes due 2019, and for general corporate purposes.